The EUR/USD pair treads water as markets remain on the back foot and refrain from placing big bets ahead of the much awaited US ADP employment data, a precursor to the highly influential NFP report due on Friday. The US private sector is expected to have created 185,000 new jobs in February, against 205,000 jobs added a month before.

EUR/USD Technical Levels

In terms of technicals, the pair finds the immediate resistance at 1.0894/1.0898 (5 & 100-DMA). A break beyond the last, doors will open for a test of 1.0932/45 (daily R2/ 1h 100-SMA). On the flip side, the immediate support is placed at 1.0835 (four-week Low) below which at 1.0812/09 (Feb 1 & Jan 29 Low) could be tested.
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